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Feb. 27, 2020, 4:51 p.m. EST

Mylan posts lower Q4 profit after litigation costs

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By Kimberly Chin

Mylan NV said profit fell in the fiscal fourth quarter, weighed by an $8.9 million charge related to litigation settlements and other contingencies, compared with a $1.1 million charge last year.

The drugmaker's net income was $20.5 million, or 4 cents a share, compared with $51.2 million, or 10 cents a share, in the same period a year ago. Adjusted earnings were $1.40 a share, up from $1.30 a share in the year-earlier period. Analysts polled by FactSet expected adjusted earnings of $1.28 a share.

Sales were $3.19 billion, up from $3.08 billion in the comparable quarter last year, driven by an increase in sales in North America, Europe and the rest of the world. Analysts were looking for $3.23 billion in sales.

Write to Kimberly Chin at kimberly.chin@wsj.com

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